Ride to Work

heavymtb

Right, hopefully my boss is finally about to apply to the scheme and I just had a few questions, which I am sure that all you guys and gals have heard a hundred time before by here goes....

1. How long does it take roughly from applying to actually getting my greasy mits onto a new ride? Provided they're in stock in the store? (I sneakily pre ordered one which arrived last week!)

2. Are most mainstream stores involved with the scheme, I hear that their is a wonderful store in Streatham (which is where I'd like to get it from because they have amazing service etc) but I don't think it's part of the scheme....

3. If the company you work for isn't VAT registered do I not warrant as big a discount as if it was?

4. How do I contain my excitement from shifting my booty off my ancient shire horse onto a spritely, young thoroughbred!?!?

RufusA

Are you talking about the Ride2Work scheme run by Evans?

In answer to your questions (assuming Evans):

1) After completing the application form I believe it can take a couple of weeks for them to raise the invoice to your employer, then however long it takes for the employer to pay, and them to issue the voucher. I'd suggest 4 weeks from application to voucher issue is typical, possibly less if you keep on top of them.

2) Good shop in Streatham - only De Ver cycles leaps to mind - they AFAIK won't be part of the Evans Scheme.

3) Your employer won't be able to claim back the VAT, so you won't usually get the extra 15%ish discount. If you are a lower rate tax payer, depending on the scheme provider you may actually save more money buying direct from a LBS than doing a cycle to work scheme.

4) Cold showers and chocolate!

HTH - Rufus.

heavymtb

Thanks for that.

De vere cycles is the place come to think of it.

Now unsure as to what to do.. do I hang around and potentially save pitence or do I go and splurge and ruin the rest of my month?!?!

I NEED a new bike!!!

RufusA

LBS = Local bike shop.

My 2ps worth is that if buying a new bike typically if you find a local friendly bike shop you can get about 20% shaved off the list price for a new this years model bike (or 20% of list price in free accesories), if you ask nicely.

If going through a cycle to work scheme you would save about 30% off the full RRP (assuming basic rate tax payer, no VAT savings). BUT you also have to spend another (possibly token) amount buying the bike off you employer after 12 months, and meeting their requirements about insurance.

So the real savings for you going through a cycle scheme may be less than £50 on a £1000 bike.

If you add in going it alone you have complete free choice over shops, can buy last years model and make huge savings, can get "free accessories" that match your needs not an approved list of safety equipment. There are no delays in waiting for vouchers, you can choose a bike that you won't be using "mostly" for commuting etc.

Obviously this all depends on who the scheme provider is, some retailer run schemes allow you to buy discounted bikes.

This is all very much my own opinion and there are some on the forum who believe that the cycle to work schemes are the panacea to all bike purchase evils, require no effort and it's a full win win situation for everyone. The truth probably lies between the two opinions. I am quite anti some scheme providers!

If you can afford the capital outlay I would strongly recommend you check what deals a LBS could offer you before commiting to buying through a scheme.

YMMV - Rufus.

DonDaddyD

To give a proper answer I think we need more information from the OP as the cycle 2 work scheme vs buying the bike outright (with possible LBS discount) is subjective to the individual and situation.

My situation. I work for a NHS Trust who prefers not to partake in schemes that deal with chain stores like Evans cycles. Instead it employs a cycle2work scheme, which is exactly the same thing, but deals with a large selection of independently run local bikes stores like DeVer, Brixton Cycles, Psubliminal, Herne Hill Cycles etc. - We like helping the community :P

Anywho I bought outright and without using the C2W scheme a Giant SCR3 for £370 from DeVer cycles (thats about £95 less than the retail price - due to it being an outgoing '08 model).

If I had:

(i) Waited for the cycle to work scheme.
- They may have sold out of the discounted '08 model.

(ii) Went through the cycle to work scheme.
- Probably would not have received as large a discount (this includes the 5% purchase cost) at the end of the hire period.
- Been pissed off with money leaving my bank and paying back work.
- Not felt that I truly owned the bike.

However, these above points are only mostly valid because I could afford to buy the bike outright.

If the bike was £1000 - £2000 I would absolutely use the cycle2work scheme because even though I could potentially save and pay for the bike outright (with or without discount) using the scheme would make paying for it noticeably easier.

Juju_uk_68

My scheme is via Halfords.

I work for the RBS. They reckoon that a £600 bike eventually costs me about £306.

Not sure I fully understand their calcualtions. However, I got a £600 bike, and over 3 years, is costing me from salary £12.33 a month. Total cost appears to be £430 ish, but as far as I understand, I am not taxed on that £12.33 so its like having a further 30% discourt roughly if you imagine I'd have spent the cash on a bike anyway. So the discount to me is almost 50%, and on top of that, its interest free over three years anyway.

So I get a new, halfway decent beginners bike, a Bianchi Nirone 7 Alu Xenon for less than the cost of a takeaway curry every month.

And if I cycle to work, I can save in one week in transport costs, 2 months of bike cost, and justify all the extra curry I can now afford.

Downwardi

DonDaddyD wrote:

To give a proper answer I think we need more information from the OP as the cycle 2 work scheme vs buying the bike outright (with possible LBS discount) is subjective to the individual and situation.

My situation. I work for a NHS Trust who prefers not to partake in schemes that deal with chain stores like Evans cycles. Instead it employs a cycle2work scheme, which is exactly the same thing, but deals with a large selection of independently run local bikes stores like DeVer, Brixton Cycles, Psubliminal, Herne Hill Cycles etc. - We like helping the community :P

Anywho I bought outright and without using the C2W scheme a Giant SCR3 for £370 from DeVer cycles (thats about £95 less than the retail price - due to it being an outgoing '08 model).

If I had:

(i) Waited for the cycle to work scheme.
- They may have sold out of the discounted '08 model.

(ii) Went through the cycle to work scheme.
- Probably would not have received as large a discount (this includes the 5% purchase cost) at the end of the hire period.
- Been pissed off with money leaving my bank and paying back work.
- Not felt that I truly owned the bike.

However, these above points are only mostly valid because I could afford to buy the bike outright.

If the bike was £1000 - £2000 I would absolutely use the cycle2work scheme because even though I could potentially save and pay for the bike outright (with or without discount) using the scheme would make paying for it noticeably easier.

Yeah Depends on Circumtances too.
If you are just buying say a £400 Bike then shop around and get a good discount.
If you are buying a bike and a load of accessories like most Newbs then the C2W scheme is good.
I spent 1/3rd of the cost of the bike on Equipment as I had nothing.

Also the bike I had was only about 5% cheaper online so not too much hassle going to LBS.
Total savings I worked out are 25% (including "purchase price" at end of scheme through salary sacrifice (maybe more as it's 12 monthly payments so no loan needed if I had to buy outright)

heavymtb

All is good, very good infact! Just bought a Specialized Sirrus Elite 2008 from Evans and got a few bits thrown in. My lovely GF fronted the bill! An interest free agreement! Very chuffed! Just had a very decent ride and it makes such a difference. Never thought I could get 35mph (estimate) on a slight down hill with out too much effort....I love my girlfriend! Now for the insurance...

AndyManc

heavymtb wrote:

All is good, very good infact! Just bought a Specialized Sirrus Elite 2008 from Evans and got a few bits thrown in. ..

Looks a decent bike that , might upgrade from my TREK 7.3 FX.

Get some bar ends , Specialized do some great moulded ones for £15, I got some from Evans ... makes a big difference.

What freebies did you get off Evans ?